ICA applauds call to scrap stamp duty
06 August 2012
The Insurance Council of Australia has welcomed the NSW Professional Services Industry Taskforce’s proposal that the state scrap stamp duty on insurance policies…
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Met bureau wants investment in early warning systems, monitoring
06 August 2012
The Bureau of Meteorology says investment in early-warning systems and environmental monitoring and analysis would reduce risks from climate change…
BHP settles massive Queensland flood claim
30 July 2012
BHP Billiton and its partner Mitsubishi Developments are believed to have made the world’s largest out of court settlement of its type with insurers over flood damage to their Bowen Basin coalmines in 2007/8…
Climate change report appears to reject NDIR flood findings
30 July 2012
The Productivity Commission’s draft report on climate change appears to dismiss the key recommendations of the Natural Disaster Insurance Review, according to the three members of the review panel…
General insurance enjoying economic boom
30 July 2012
The general insurance sector is continuing to grow, although affordability in some areas remains a problem, Deloitte Access Economics General Insurance Partner Rick Shaw says…
Australia’s bushfire risks modelled
30 July 2012
Catastrophe risk modelling firm AIR Worldwide has released its first probabilistic bushfire model for Australia and updated its local tropical cyclone and earthquake models…
Pratten sentencing hearing delayed
30 July 2012
Rural & General Insurance Brokers founder and MD Charles Pratten is awaiting sentencing after having been found guilty of seven counts of dishonestly obtaining by deception a financial advantage…
Pressure on earthquake insurers to shorten timeframes
30 July 2012
New Zealand insurers are being urged to give Christchurch homeowners shorter timeframes on rebuilds and to have more staff available in the city, as frustration grows over delays on claims settlement…
New business continuity management standard adopted
30 July 2012
A new international standard has been devised to better prepare organisations for events like natural disasters and technology-related accidents…
Queensland considers better flood risk information
23 July 2012
The Queensland Government is investigating how property-buyers can get better information about flood risk…
SMEs are happy with their brokers: survey
23 July 2012
SMEs are more than content with their brokers and have an increased awareness of the role brokers perform, according to new research…
SMEs still not clear on insurance, says Suncorp study
23 July 2012
Many SMEs remain underinsured and don’t understand what cover they need, says a new Suncorp white paper…
ACORD aims at Asia-Pacific
23 July 2012
The US-based Association for Co-operative Operations Research and Development plans to set up an Asia-Pacific insurance grouping based on its European “Ruschlikon” model which will make insurance…
London underwriters have issues over Christchurch
23 July 2012
London market underwriters are concerned about business interruption issues from the Christchurch earthquakes and are questioning how tougher regulations on strengthening buildings…
Insurers need commercial imperative to adapt to climate change
23 July 2012
The insurance industry can play a critical role in encouraging adaptation to climate change but needs a commercial imperative to do it, say researchers from the University of Sydney…
Low bond yields the new threat to profitability
23 July 2012
The collapse in bond yields is a new threat to insurers’ profitability, according to a report from Finity Consulting and Deutsche Bank…
Worker-to-worker claims increasing, so excesses are rising
23 July 2012
Insurers are increasing excesses for worker-to-worker claims, according to industry experts…
Buyer beware, says The Warranty Group
16 July 2012
The range of corporate structures in the warranty industry means that some providers can operate without an Australian financial services licence and some of them are tarnishing the industry, says…
Call to inspect buildings in cyclone path
16 July 2012
Housing in cyclone-prone areas should be inspected before the cyclone season so owners can strengthen their properties, James Cook University’s Cyclone Testing Station has recommended…
S&P to change rating methodology for insurers
16 July 2012
Ratings agency Standard & Poor’s plans to change the methodology it uses to rate insurance companies…